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Marketable Securities
 9 Months Ended
Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]  
Marketable securities

4. Marketable securities

 

The following table summarizes the Company’s marketable securities as of September 30, 2024 (in thousands):

 

 

 

September 30, 2024

 

 

 

Amortized Cost

 

 

Unrealized Gains

 

 

Unrealized Loss

 

 

Fair Value

 

Marketable securities:

 

 

 

 

 

 

 

 

 

 

 

 

Corporate bonds

 

$

10,044

 

 

$

—

 

 

$

(15

)

 

$

10,029

 

US Government debt securities

 

 

108,925

 

 

 

208

 

 

 

(26

)

 

 

109,107

 

Total

 

$

118,969

 

 

$

208

 

 

$

(41

)

 

$

119,136

 

 

 

The following table summarizes the Company’s marketable securities as of December 31, 2023 (in thousands):

 

 

 

December 31, 2023

 

 

 

Amortized Cost

 

 

Unrealized Gains

 

 

Unrealized Loss

 

 

Fair Value

 

Marketable securities:

 

 

 

 

 

 

 

 

 

 

 

 

US Government debt securities

 

$

9,976

 

 

$

—

 

 

$

(24

)

 

$

9,952

 

Total

 

$

9,976

 

 

$

—

 

 

$

(24

)

 

$

9,952

 

As of September 30, 2024, the weighted average maturity of the Company’s marketable securities is 0.682 years.

The Company did not record an allowance for credit losses as of September 30, 2024 related to its marketable securities. Further, given the lack of significant change in the credit risk of these investments, the Company did not recognize any other-than-temporary impairment losses.